Construction Partners, Inc. (NASDAQ:ROAD) Expected to Post Q3 2024 Earnings of $0.53 Per Share

Construction Partners, Inc. (NASDAQ:ROAD - Free Report) - Stock analysts at DA Davidson issued their Q3 2024 earnings per share (EPS) estimates for Construction Partners in a research report issued on Tuesday, May 14th. DA Davidson analyst B. Thielman expects that the company will post earnings of $0.53 per share for the quarter. The consensus estimate for Construction Partners' current full-year earnings is $1.37 per share. DA Davidson also issued estimates for Construction Partners' FY2024 earnings at $1.38 EPS.

ROAD has been the subject of several other research reports. Robert W. Baird upped their target price on Construction Partners from $50.00 to $60.00 and gave the stock a "neutral" rating in a research note on Monday. Sidoti lowered shares of Construction Partners from a "buy" rating to a "neutral" rating and set a $59.00 target price on the stock. in a report on Thursday, March 28th. Finally, Stifel Nicolaus boosted their price target on shares of Construction Partners from $51.00 to $57.00 and gave the stock a "buy" rating in a research note on Monday, February 12th. Two equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Construction Partners presently has a consensus rating of "Moderate Buy" and an average price target of $54.00.

Construction Partners Price Performance

Shares of Construction Partners stock traded up $2.16 during trading on Wednesday, hitting $57.24. 753,350 shares of the stock traded hands, compared to its average volume of 368,370. The stock has a market cap of $3.02 billion, a price-to-earnings ratio of 48.92, a PEG ratio of 1.40 and a beta of 0.68. The company has a quick ratio of 1.39, a current ratio of 1.64 and a debt-to-equity ratio of 0.81. Construction Partners has a 52 week low of $27.33 and a 52 week high of $58.65. The firm's fifty day moving average is $53.76 and its 200-day moving average is $47.18.

Construction Partners (NASDAQ:ROAD - Get Free Report) last posted its quarterly earnings data on Friday, May 10th. The company reported ($0.02) earnings per share for the quarter, beating the consensus estimate of ($0.07) by $0.05. Construction Partners had a net margin of 3.68% and a return on equity of 12.00%. The firm had revenue of $371.43 million for the quarter, compared to analysts' expectations of $363.12 million. During the same quarter last year, the company posted ($0.11) EPS. The business's quarterly revenue was up 14.3% on a year-over-year basis.

Institutional Trading of Construction Partners

Large investors have recently modified their holdings of the business. Moody Aldrich Partners LLC bought a new stake in shares of Construction Partners in the 4th quarter worth approximately $4,282,000. Assenagon Asset Management S.A. bought a new position in Construction Partners in the 4th quarter worth $769,000. R.P. Boggs & Co. lifted its position in shares of Construction Partners by 2.6% in the 3rd quarter. R.P. Boggs & Co. now owns 433,044 shares of the company's stock worth $15,832,000 after purchasing an additional 11,142 shares during the period. New York State Common Retirement Fund boosted its stake in shares of Construction Partners by 1,050.7% during the 3rd quarter. New York State Common Retirement Fund now owns 190,160 shares of the company's stock valued at $6,952,000 after purchasing an additional 173,635 shares in the last quarter. Finally, Dark Forest Capital Management LP purchased a new position in shares of Construction Partners during the third quarter valued at about $648,000. 94.83% of the stock is owned by institutional investors.

About Construction Partners

Construction Partners, Inc, a civil infrastructure company, constructs and maintains roadways in Alabama, Florida, Georgia, North Carolina, South Carolina, and Tennessee. The company provides various products and services to public and private infrastructure projects, such as highways, roads, bridges, airports, and commercial and residential developments.